It is known, as shown in U.S. Pat. No. 3,917,220, to provide a pressure reducing and regulating valve which is operated to move a seal container between an inlet, an outlet, and vent port in response to fluid pressure. However, the pressures in the valve cavity act to expand the valve body causing leakage. It is desirable to mount valves on a subplate by bolts wherein the valve utilizes face seals to prevent leakage. A pressure reducing and regulating valve using face seals and which is subplate mounted is shown in U.S. Pat. No. 3,018,796. However, face seals are subject to extrusion when high pressure causes port plate separation at the subplate interface. One feature of the present invention is directed to an improved pressure reducing and regulating valve, which is subplate mounted and in which both the inlet pressure and the outlet pressure pass through a porting plate which provides a hold down force to compensate for the forces acting to separate the porting plate from the subplate mounting thus preventing seal extrusion. Another feature is the provision of flow force compensating holes for preventing hammering or chattering of regulating valves.